Amazon To Pay $850M For Zappos Online Shoe Store

Law360, New York (July 23, 2009, 5:09 PM EDT) -- Amazon.com Inc. has agreed to pay nearly $850 million in stock and cash to acquire Zappos.com Inc., in a deal both companies say will keep the online shoe retailer as an independent unit within the Internet sales giant.

Amazon said Wednesday it would trade roughly 10 million shares of its common stock — worth $807 million by the company's estimates — for all of Zappos' outstanding shares, options and warrants. The online giant will also pay Zappos employees $40 million in cash and restricted stock....
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